You have two assets and must calculate their values today based on their payment streams and required returns. Asset 1 has a required return of 7% and will produce a stream of $800 starting at year 1 and continuing indefinitely. Asset 2 has a required return of 12% and will produce an end-of-year cash flow of $1,100 in 1 year, $1,400 in 2 years, and $850 in 3 years.

The value of Asset 1 today is $? (Round to the nearest cent.)

Asset 2?